The global encoder market size is expected to grow from USD 2.3 billion in 2021 to USD 3.7 billion by 2026, at a CAGR of 10.0%. The need for high-end automation across industries, growth in adoption of Industry 4.0, and the inclination toward advanced technologies amid COVID-19 pandemic are the key factors driving the growth of the encoder market.
Key players operating in the encoder market include major players operating in different stages in the entire value chain of encoder; these players are Sensata Technologies (US), Dynapar Corporation (US), HEIDENHAIN (US), and Renishaw plc (UK). Many major companies focus on implementing organic growth strategies, such as product launches, and inorganic strategies, such as partnership and expansions, to increase their revenue.
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Top 3 Players in Encoder Market:
Dynapar Corporation is a subsidiary of Fortive—an electrical and electronics manufacturing group. The parent company offers its products through three business segments, namely, Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions, wherein Dynapar Corporation is a part of the precision technologies business segment. Dynapar offers a wide range of products and solutions, such as rotary encoders, resolvers, encoder accessories, condition monitoring, and condition monitoring applications. It offers various encoders through brands such as Dynapar, NorthStar, Harowe, and Hengstler. The company is associated with some of the Brand Standard Associations—ANSI, ASME, CSA Group, ISO, and others; Brand Communication Protocols—BiSS Interface, DeviceNet, Inetrbus, and Profibus; and Band Recognized Distributor Partners—AHTD, Fortive, DDC, Marathon, and Technosoft.
Sensata Technologies is a global industrial technology company and a pioneer in mission-critical sensors and controls. The company has a diverse product portfolio and has been catering to a wide range of verticals, such as aerospace & defense, energy, industrial, material handling, medical, motors, and professional food equipment. In 2018, Sensata manufactured and provided more than 47,000 products to its customers. The company operates through two major business segments—Performance Sensing and Sensing Solutions, wherein the encoders are part of the Sensing Solutions segment. The position sensors and encoders are marketed through brands such as Kavlico, BEI Sensors, and Newall. The rotary and linear encoders prove to have high quality, durability, accuracy, repeatability, reliability in tough environments, and competitive pricing. The company has a large presence across the globe, with business centers and manufacturing and sales sites located in 13 countries.
HEIDENHAIN is a pioneer in measurement control and drive system technologies. Major offerings of the company include linear encoders, angle encoders, rotary encoders, CNC controls, and digital readouts. These products are mainly used in high-precision machine tools as well as electric component manufacturing and distribution plants. Further, the company’s expertise in encoders has enabled it to automate production machines and systems and attain a prime position in the market. HEIDENHAIN provides its diverse product portfolio under the brands AMO, ETEL, IMT, LTN, NUMERIK JENA, RENCO, and RSF to most of the industries and applications, such as machine tools, automation, semiconductors, electronics, metrology, robotics, drive systems, medical technology, elevators, printing machines, structural health monitoring, and telescopes. The company has its sales agencies, service agencies, subsidiaries, as well as a distribution network. It has a cumulative of 30 subsidiaries and 40 distributors located across the globe. Additionally, its high emphasis on research and development has aided the company to focus mainly on innovation and development of advanced technologies.
Encoders Market with COVID-19 Impact, by Type (Linear and Rotary), Technology (Optical, Magnetic, Inductive), Application (Automotive, Consumer Electronics, Industrial, Power, Healthcare), Signal Type, and Geography - Global Forecast to 2026
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